A Second Mortgage is perfect for those times when you wish to access the additional equity in your property but prefer to leave your first mortgage in tact. You may require an amount that a personal loan doesn’t cater for, again, this is where a second mortgage comes in handy.
Second mortgages are secured by real estate collateral however since the second mortgage lender is sitting behind your first mortgage in order of priority, the second mortgagee carries a greater risk and so a higher interest rate reflects this.
Often there is no credit check required and in many cases no valuation is needed.
Apply online or contact us now to discuss your options.
